Chinese Premier Accuses Western Nations of Sowing Division and Confrontation in Global Economic Issues

Chinese Premier Li Qiang has accused Western nations, particularly the United States, of “sowing division and confrontation” and politicizing economic issues. Li made these remarks at the World Economic Forum’s Annual Meeting of the New Champions in Tianjin, also known as the “Summer Davos.” He emphasized the need for exchange and cooperation in the global economy and criticized the “invisible barriers” created by some Western countries that are pushing the world into division and confrontation.

Li’s comments come in response to the United States and other Group of Seven countries pledging to reduce their exposure to China and diversify away from the country’s business practices, which they claim distort the global economy. Li directly targeted the strategy of “de-risking,” stating that if there is risk in a certain industry, businesses are in the best position to assess it, and governments should not stretch the concept of risk to turn it into an ideological tool.

While Western countries argue that their efforts are aimed at reducing potentially dangerous dependencies, China sees them as part of an American plan to hinder its rise. These external pressures are particularly concerning for Beijing as it tries to revive its consumer-led economy after three years of strict COVID-19 policies. Weak consumer spending and slow property sales have raised concerns about China’s economic growth, which had initially picked up after the end of COVID-19 restrictions but is now losing momentum.

Li, who is responsible for China’s economic policies, sought to restore confidence in the Chinese economy by expressing his full confidence in the country’s economic prospects. He stated that China, as a responsible major country, has stood on the right side of history and progress.

However, while Chinese officials like Li emphasize that China is open for business, domestic authorities have been cracking down on foreign consulting firms, Chinese entrepreneurs, and updating foreign espionage laws, which has made overseas firms wary of doing business in China. The Chinese government also continues to tightly control information, as seen by the recent blocking of popular finance blogger Wu Xiaobo from the platform Sina Weibo for posting “negative and harmful information” about Chinese economic policies.

Why does China view Western countries’ efforts to reduce their exposure to China as part of an American plan to impede its rise, and how does this view affect China’s economic growth and prospects

Chinese Premier Li Qiang has accused Western nations, particularly the United States, of politicizing economic issues and creating division and confrontation. Li made these remarks at the World Economic Forum’s Annual Meeting of the New Champions in Tianjin, also known as the “Summer Davos.” He emphasized the importance of global economic exchange and cooperation and criticized the “invisible barriers” created by some Western countries that are driving the world towards division and confrontation.

Li’s comments are a response to the United States and other Group of Seven countries pledging to reduce their exposure to China and diversify away from the country’s business practices, which they argue distort the global economy. Li directly targeted the strategy of “de-risking,” stating that businesses are best equipped to assess risks in certain industries, and governments should not manipulate the concept of risk for ideological purposes.

While Western countries argue that their efforts aim to reduce potentially risky dependencies, China views them as part of an American plan to impede its rise. These external pressures are particularly concerning for Beijing as it seeks to revive its consumer-led economy after three years of strict COVID-19 policies. Weak consumer spending and sluggish property sales have raised concerns about China’s economic growth, which initially rebounded after the lifting of COVID-19 restrictions but is now losing momentum.

Li, who is responsible for China’s economic policies, sought to restore confidence in the Chinese economy by expressing his full faith in the country’s economic prospects. He stated that China, as a responsible major country, has chosen the right path in history and progress.

However, despite Chinese officials’ assertions that China is open for business, domestic authorities have been cracking down on foreign consulting firms and Chinese entrepreneurs. Additionally, China has been updating its foreign espionage laws, which has made overseas firms cautious about doing business in the country. The Chinese government also maintains tight control over information, as evidenced by the recent blocking of popular finance blogger Wu Xiaobo from the platform Sina Weibo for sharing “negative and harmful information” about Chinese economic policies.